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Monday, 8 December 2014

We need to be Publicising the Success of Innovative Australian Startups

We need to be doing more to publicise the success of innovative Australian companies, an interesting article on technology startups by Nick Abrahams.

"Over the past few years, the US VC community has pored over hundreds of Australian tech companies and have made more than 10 major investments, worth almost $1 billion.
Accel are the leaders of this wave, putting Australia on the map with their big plays into Atlassian, OzForex and 99designs. Their $35 million investment valued Strode’s Invoice2go at more than $100 million, rivalling Erina Fair as one of the biggest businesses north of Newcastle.
Not bad for a guy who started the company with his wife Michelle nine years ago.
Atlassian has been the poster child for how a bootstrapped tech company can grow a global customer base from Australia.
Accel found Atlassian because so many of their investees used the software that they invested in it, and a global tech superstar was born. It has been a sensational investment for Accel and its halo effect has brought many other US VCs to Australia’s shores.
There are at least six US venture funds making regular trips here, scouring our tech successes such as Campaign Monitor ($266 million from Insight Venture Partners) and our unsung heroes like SiteMinder ($30 million from Technology Crossover Ventures)."